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The Big Mac index

The data this week comes from TheEconomist. Their article about this dataset can be found here.

This repository contains the data behind The Economist’s Big Mac index, and code that shows how we calculate it. To download the data, go to the latest release, where you can download the index data in a CSV or Excel, or the code behind it.

Source data

Our source data are from several places. Big Mac prices are from McDonald’s directly and from reporting around the world; exchange rates are from Thomson Reuters; GDP and population data used to calculate the euro area averages are from Eurostat and GDP per person data are from the IMF World Economic Outlook reports.

Get the data here

# Get the Data

# Read in with tidytuesdayR package 
# Install from CRAN via: install.packages("tidytuesdayR")
# This loads the readme and all the datasets for the week of interest

# Either ISO-8601 date or year/week works!

tuesdata <- tidytuesdayR::tt_load('2020-12-22')
tuesdata <- tidytuesdayR::tt_load(2020, week = 52)

big-mac <- tuesdata$big-mac

# Or read in the data manually

big-mac <- readr::read_csv('https://raw.githubusercontent.com/rfordatascience/tidytuesday/master/data/2020/2020-12-22/big-mac.csv')

Data Dictionary

big-mac.csv

variable definition source
date Date of observation
iso_a3 Three-character [ISO 3166-1 country code][iso 3166-1]
currency_code Three-character [ISO 4217 currency code][iso 4217]
name Country name
local_price Price of a Big Mac in the local currency McDonalds; The Economist
dollar_ex Local currency units per dollar Reuters
dollar_price Price of a Big Mac in dollars
USD_raw Raw index, relative to the US dollar
EUR_raw Raw index, relative to the Euro
GBP_raw Raw index, relative to the British pound
JPY_raw Raw index, relative to the Japanese yen
CNY_raw Raw index, relative to the Chinese yuan
GDP_dollar GDP per person, in dollars IMF
adj_price GDP-adjusted price of a Big Mac, in dollars
USD_adjusted Adjusted index, relative to the US dollar
EUR_adjusted Adjusted index, relative to the Euro
GBP_adjusted Adjusted index, relative to the British pound
JPY_adjusted Adjusted index, relative to the Japanese yen
CNY_adjusted Adjusted index, relative to the Chinese yuan

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